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of <h1>RBI amends FEMA notification, adds 'non' before 'whole time director' in paragraph 3, effective immediately.</h1> Notification No. FEMA/39/2001-RB, issued by the Reserve Bank of India on February 27, 2001, amends a previous notification under the Foreign Exchange Management Act, 1999. The amendment involves inserting the word 'non' before 'whole time director' in paragraph 3 of the earlier Notification No. FEMA/16/RB-2000 dated May 3, 2000. This change is effective immediately as per the notification published in the Official Gazette of the Government of India on June 28, 2001.
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